Bankruptcy Law
How To Get Financial Freedom With A Bankruptcy Lawyer In Miami
Making the choice to file for bankruptcy is never easy. There are many different reasons why you’re making this final decision, but there’s no reason you have to make it alone. Hiring a bankruptcy lawyer in Miami to help you through this transition in your life will ensure the process goes smoothly, allowing you to face the next steps with confidence.
Arturo R. Alfonso, P.A. has been helping individuals file for bankruptcy for over twenty-five years and has the knowledge and experience to assist you.
What Is Bankruptcy?
Understanding what bankruptcy is and how it affects you will help you determine if it’s the next step in your financial journey. Bankruptcy occurs when an individual cannot repay all their debts and chooses this legal process to waive those debts. This court-ordered process allows the debtor to “clear the slate” while treating creditors fairly, as they may receive some repayment.
The process begins with the debtor filling out paperwork, listing all debts and assets, as some assets may be used to pay a portion of the outstanding debt. This legal route is often taken when individuals or businesses cannot afford to pay off their debts. Filing for bankruptcy essentially allows you to start over, though it will affect your credit score and ability to obtain credit in the future. If bills and late notices are overwhelming your life, bankruptcy may be the solution for you. A bankruptcy attorney in Miami can help you navigate this difficult decision.
Chapter 7 Bankruptcy
Chapter 7 is the most widely used type of bankruptcy and involves clearing all debts through the liquidation of assets. While certain assets, like retirement or pension plan interests, government benefits, and wages still in your bank account, may be exempt, this option is often a last resort for those unable to cover their bills and expenses. A Miami bankruptcy lawyer can guide you on what you can keep and what will be liquidated.
Chapter 13 Bankruptcy
Chapter 13 bankruptcy typically involves a debt repayment plan designed to save property during bankruptcy. If you have a steady income but are overwhelmed by debt, you might fear losing your home or business. This chapter allows you to allocate a portion of your monthly wages towards debt repayment while keeping your property. It’s an effective way to manage debt without the threat of losing your living situation. If you’re unsure which chapter is right for you, a bankruptcy attorney in Miami can help you determine the best course of action.
Contact Us
Are you ready to escape debt and reclaim your life? It all starts with hiring a bankruptcy lawyer in Miami. The offices of Arturo R. Alfonso, P.A., can assist you. Our team has helped hundreds settle their debts and enjoy financial freedom again. Don’t settle for searching “bankruptcy lawyer near me”—call us today to see how we can help you!